KARACHI: Remittances sent home by Overseas Pakistanis in February 2022 increased by 2 per cent compared to Jan 2022, according to data shared by the State Bank of Pakistan (SBP).
Workers’ remittances clocked in at $2.2 billion in Feb 2022, above the $2 billion mark for a 21th consecutive month.
Also Read: State Bank of Pakistan’s reserves fall by $250mln
The central bank said remittances increased by 2 per cent on month-on-month basis despite fewer working days compared to January and fell by 2.7 per cent on year-on-year basis.
During the first eight months (July-Feb) of the current fiscal year, the SBP said remittances grew by 7.6 per cent to $20.1 billion compared to the same period of last year.
Also Read: US dollar hits record high against Pakistani rupee
The data showed the inflows from Saudi Arabia clocked in at $558 million, United Arab Emirates (UAE) $387 million, United Kingdom $319 million, and United States of America $210 million.
Leave a Comment